Analyst Patrick Trucchio from H.C. Wainwright reiterated a Buy rating on Faron Pharmaceuticals Oy and keeping the price target at £10.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors including promising clinical trial results and a strong pharmacodynamic rationale. The updated data from the Phase 1/2 BEXMAB trial showed significant improvement in response rates for Faron Pharmaceuticals’ bexmarilimab, particularly in treatment-naïve high-risk myelodysplastic syndrome patients. The trial demonstrated an 85% objective response rate and a 45% complete remission rate, indicating a deepening of responses over time.
Additionally, the new biomarker data provided a clear link between target engagement and clinical outcomes, reinforcing the drug’s mechanism of action. The combination of bexmarilimab with azacitidine also showed promising results in patients with high-risk mutations, and the safety profile was favorable with no severe adverse events reported. These factors, along with a robust valuation approach, support the Buy rating and the price target of £10.